Jobs: Wales’ unemployment rate falls again to 3.7%

Unemployment in Wales has again fallen in the three months to October.

A total of 56,000 people were jobless, which is 3.7% of those over 16 years old – this is lower than the UK average of 4.2%.

Compared with the three months to July, unemployment has fallen by 9,000.

And it has dropped by 14,000 compared with October last year, according to the Office for National Statistics (ONS).

Wales saw the largest yearly decrease in economic inactivity in the UK, with the rate decreasing by 1.1 percentage points to 23.2%.

Analysis by BBC Wales’ Money Correspondent Huw Thomas
The labour market in Wales is healthy, with more people in work than before the pandemic began.

There is no clear impact on unemployment following the end of furlough in September, although some staff who were laid off may still be working their notice period.

It will take a few months for the true impact of furlough’s end to work its way into the statistics.

But while there are high levels of employment, those who are in work will feel like their pay packets are shrinking.

Inflation is forecast to continue to rise until May next year, making the cost of living more expensive for everyone – whether they are in work or not.